Stocks to Watch on August 23, 2023: Torrent Pharma has joined the race to buy out Cipla's promoter stake held by the Hamied family, reported The Economic Times
Closing Bell on August 17, 2023: On the upside, only the Nifty PSU Bank index (up 1.5 per cent) outperformed the markets
Stocks to watch on August 17, 2023: Balrampur Chini, Delta Corp, GNFC, Indiabulls Housing Finance, India Cements, SAIL and Zee among 11 stocks in F&O ban on Thursday.
Senior Congress leader Jairam Ramesh on Friday said Indian pharmaceutical company Cipla is an integral part of the country's political, economic and social history and its "impending takeover" by Blackstone should sadden everyone. The Congress general secretary shared a media report on Twitter which claimed that Blackstone, the world's largest private equity fund, is set to submit a non-binding bid as early as next week to acquire the entire 33.47 per cent promoter stake in Cipla. "It was painful to learn that Blackstone, the world's largest private equity fund, is negotiating to acquire the entire 33.47% promoter stake in Cipla, India's oldest pharmaceutical company," Ramesh, who is the chairman of Parliamentary standing committee on science and technology, environment and climate change, said. Cipla was established in 1935 by Khwaja Abdul Hamied, who was profoundly impacted by Mahatma Gandhi, Jawaharlal Nehru, Sardar Patel and Maulana Abul Kalam Azad. He also played an important
With regards to the promoters stake sale buzz, the company said it will make appropriate disclosure in compliance with the Listing Regulations as and when any such requirement arises.
Stocks to Watch on July 28, 2023: Despite a 10 per cent increase in revenue, telecom provider Airtel Africa announced a net loss of $151 million in the first quarter (April-June) of FY24 on Thursday
Cipla shares closed 9.6 per cent up on Thursday to Rs. 1,175
As of July 27, Cipla's market cap stands at Rs 94572 crore
The company has hired an investment bank to advise on the deal, the report said
For FY24, Cipla raised its EBITDA margin guidance to 23 per cent from 22 per cent earlier.
The company's One-India business grew by 12 per cent YoY. Their US business reported highest-ever revenue of $222 million and 43 per cent YoY growth
Cipla Q1 preview: The company's domestic business can grow 15 per cent quarter-on-quarter (QoQ), while US business could contract by up to 4 per cent QoQ to $195 million
'The company is initiating a recall in the US due to a market complaint for one single inhaler, where leakage was observed through the inhaler valve,' the pharmaceutical company said in a statement
Zydus argued that Cipla started branding its Glucose product under Gluco C ++ and Gluco D ++, in order to create confusion in the minds of customers
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Drug major Cipla on Friday said its consolidated net profit increased by 45 per cent to Rs 526 crore for the fourth quarter ended March 31, 2023, driven by robust sales across the domestic business and US market. The Mumbai-based company had reported a net profit of Rs 362 crore for the January-March quarter of 2021-22 fiscal. Total revenue from operations rose to Rs 5,739 crore for the fourth quarter as compared with Rs 5,260 crore in the year-ago period, Cipla said in a regulatory filing. For the year ended March 31, 2023, the drug maker reported a consolidated net profit of Rs 2,802 crore as against Rs 2,517 crore in FY22. Total revenue rose to Rs 22,753 crore last fiscal as against Rs 21,763 crore in 2021-22 fiscal. "In FY23, we recorded the highest ever revenue with EBITDA crossing Rs 5,000 crore for the first time. Our One-India business continued the double-digit trajectory growing at 13 per cent ex-Covid during the year led by branded prescription and sustained growth acros
Hospitals to recover from sluggish Q3; diagnostics' growth rate at pre-Covid levels
Stocks to watch today: From Cipla to Zydus Lifesciences, here are top stocks to watch in Tuesday's trading session
Drug major Cipla on Monday said it has inked a licensing pact with Novartis Pharma AG to manufacture and market Galvus range, used in the treatment of type 2 diabetes, from January 1, 2026. The Mumbai-based company has signed a perpetual license agreement with Novartis Pharma AG (Switzerland) to manufacture and market Galvus and Galvus combination brands, it said in a regulatory filing. "This deal is expected to further bolster Cipla's position in India as one of the top players in the diabetes category," it added. The agreement is subject to satisfaction of certain conditions precedent, the drug firm said. Galvus is one of the leading brands in the Dipeptidyl Peptidase-4 (DPP4) space and amongst the prominent brands in the oral diabetic medication category, the drug firm stated. On Monday, shares of Cipla ended 1.02 per cent up at Rs 901.85 apiece on the BSE.
CLOSING BELL: The Nifty 50 ended below the 17,000-mark for the first time since October 11, 2022. The NSE benchmark has now shed 630 points in the last five trading sessions.